M E S Q U I T E Producing Location: California, United States | Operator: Equinox Gold Corp. | Precious Metals: Au | Royalty: NSR: 0.5–2% Mesquite is a gold operation located in southeast California, 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. 2025 2024 2023 Revenue to Franco ‑ Nevada ($ million) $ 5.5 $ 3.2 $ 3.1 M&I Resources (koz Au) 1 1,213 1,855 1,016 Inf. Resources (koz Au) 1 55 912 510 P&P Reserves (koz Au) 1 125 471 584 M&I Royalty Ounces (000s) 1,2 22 34 19 Inf. Royalty Ounces (000s) 2 1 17 9 P&P Royalty Ounces (000s) 2 2 9 11 1 Please refer to the tables on pages 126–134 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.85% is applicable The mine is an open pit, run-of-mine, heap leach operation. Franco-Nevada holds royalties on the entire Mesquite mine property that range from a 0.5–2% NSR, depending on the claim block, as shown on the schematic. Mesquite produced 85,998 oz of gold in 2025, an increase from 71,984 oz of gold produced in 2024 due to reaching the major ore source of the Ginger pit in March 2025 which had higher grades than the material mined in 2024. For 2026, Equinox Gold anticipates production of 70–80 koz of gold. Mining at Mesquite in 2026 will be focused on Brownie phase 4, Rainbow North and the Big Chief 8 pits. Equinox continues to work to extend the mine life at Mesquite through exploration and permitting with a $5 million to $10 million budget for 2026. Mesquite, California Brownie Big Chief Rainbow Vista 2% NSR 0.5% NSR 1% NSR Mesquite 0.5 –2% NSR Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona Mexico Royalty Property Pits mile 1 0 N Largest operating gold mine in California Ongoing resource expansion and permitting to enable mine life extension The operator currently has a 2-year mine plan. M&I Resources could support production for 16 years and Inf. Resources for a further 1 year TSX / NYSE: FNV 82 ★ Franco-Nevada Corporation United States